Want to be in the loop?
subscribe to
our notification
Business News
MOBILE-MONEY SERVICE PILOT EXTENDED TO LATE 2024
The Government has issued a resolution regarding the extension of the pilot use of telecom payment accounts for small-value goods and services until December 31, 2024.
Accordingly, the State Bank of Vietnam was assigned to partner with the Ministry of Information and Communications, the Ministry of Public Security, the Ministry of Justice, and relevant agencies to review and report the issuance of legal documents regulating Mobile-Money service before May 2024 to competent authorities.
In 2021, the Prime Minister approved the pilot of Mobile-Money service nationwide for two years, starting from March 9, 2021.
The service allows customers to use their telecom accounts to conduct various transactions, including payment for small-value goods and services, money transfer, direct deposit and withdrawal at outlets and transaction points of telecom providers throughout the country, without requiring a bank account, a smart phone, or Internet connection.
According to the Ministry of Information and Communications, the number of clients using Mobile-Money service exceeded 3.9 million as of early May 2023, tripling the figure for the same period last year.
Among them, the number of clients in rural, remote and mountainous areas reached over 2.7 million, accounting for 69 per cent of the total.
There were 9,953 Mobile Money service points nationwide, up 12 per cent from March; and 15,326 units accepting payment via Mobile Money, up 0.2 per cent. The total number of withdrawals, transfers and payments through Mobile-Money was over 26.1 million, with a total value of roughly VNĐ1.7 trillion (US$70.1 million).
Source: VNS
Related News
ESG SERIES MASTERCLASS
Join the ESG Series Masterclass today and be a part of the solution led by our team of industry experts Bao Nguyen, Betty Pallard, Chi Nguyen, Jonathan SOURINTHA - HRK Group - PVA PRO - GPS (iBAG), Markus Klemmer, Paula Fajardo, Sergio Pereira da Silva along with many more to come…
VIETNAM’S GDP TO GROW 5.5% THIS YEAR – WB
This forecast is based on the assumption of a moderate recovery in manufacturing exports in 2024, fueled by rebound growth of 8.5% year-on-year in the fourth quarter of 2023 and 17.2% year-on-year in the first quarter of 2024, reflecting strengthening global demand, said Dorsati Madani, senior country economist at the WB in Vietnam.
FARE REFUND FOR VISA REJECTION
Cathay Pacific will offer full refunds for cases of visa rejection to provide you with the confidence to explore the world with ease. If you are planning to fly to a destination that requires an entry visa, you can now book with greater peace of mind.
MOIT PROPOSES SCHEME TO BOOST RENEWABLE ENERGY PROCUREMENT
The proposed Direct Power Purchase Agreement (DDPA) mechanism, outlined in the draft decree, targets organisations and individuals consuming electricity from the 22kV power grid or higher, with a monthly consumption averaging 500,000kWh. However, residential households are excluded from direct procurement.
REAL ESTATE BONDS PLACE PRESSURE ON ISSUING FIRMS
The ministry’s recent report underscores concerns within Vietnam’s corporate bond market for 2023 and 2024. It emphasizes the critical need to address hindrances to the real estate sector in line with the objectives provided in Government Resolution No. 33/NQ-CP, which aims to stabilize the industry.
FOUR COMMODITIES POST Q1 EXPORT VALUE OF OVER 5 BILLION USD
The total export turnover of agricultural, forestry, and fisheries products in the first three months of 2024 is estimated to reach 13.53 billion USD, an increase of 21.8% compared to the same period of 2023.